Global stock markets lose record $3 TRILLION in the past two trading days alone

The Financial Times reports that global stock markets have lost a record $3 trillion in the past two trading days alone, after a sharp sell-off in equities around the world in response to the UK referendum vote to leave the EU.

Observers said, The Financial Times reports, that the falls on the first day after the vote on Friday were tied mainly to the short-term unwinding of trading positions related to expectations of a Remain vote ahead of the shock result. The further selling on Monday was more about long-term revaluing of assets in anticipation of the potential fallout from the decision.

Meanwhile, Standard & Poor’s has stripped the UK of its AAA credit rating as a consequence of the vote.